
CarParts.com, Inc. (PRTS) Stock Forecast & Price Target
CarParts.com, Inc. (PRTS) Analyst Ratings
Bulls say
CarParts.com Inc has demonstrated strong financial performance, evidenced by a significant gross margin expansion of 230 basis points year-over-year, reaching 35.2%, which surpasses expectations driven by improved product margins and strategic price increases. The company also experienced a noteworthy increase in mobile app downloads, surpassing 550,000, indicating growing consumer engagement and potential for future sales growth. Furthermore, CarParts.com possesses substantial opportunities to increase its online market share while exploring longer-term revenue initiatives such as offering mobile mechanic services, reinforcing a positive outlook for sustained growth.
Bears say
The financial outlook for CarParts.com reflects significant challenges, evidenced by a substantial year-over-year decline in net sales of 18.5% in the second quarter, coupled with a 13% decline to $145 million, which fell short of expectations. Management has revised down 2024 sales guidance to a range of $595-600 million, indicating a need for a robust recovery in the second half of the year to meet even the lowered targets. Furthermore, projections suggest continued sales declines of 17% and 15% for the upcoming third and fourth quarters, respectively, highlighting ongoing sales softness and reduced visibility into future performance.
This aggregate rating is based on analysts' research of CarParts.com, Inc. and is not a guaranteed prediction by Public.com or investment advice.
CarParts.com, Inc. (PRTS) Analyst Forecast & Price Prediction
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